Hong Kong-based Web3 service provider Web3Labs Global has filed for a $28 million initial public offering (IPO) with the U.S. Securities and Exchange Commission. The company plans to issue 6.3 million shares priced between $4 and $5 each, aiming for a market valuation of $141 million at the midpoint. Founded in 2017, Web3Labs Global reported $2 million in revenue for the year ending December 31, 2025, and intends to list on NASDAQ under the ticker symbol MDAT. Eddid Securities and Futures is the sole underwriter for the offering.